Rebates and Tax Incentives.
There are many different commercial solar rebates and tax incentives available to provide a substantial savings to the costs of solar installation – both upfront and over time. No matter what your needs are or what type of business you have, there are multiple incentives that can be combined to reduce solar installation costs – up to 50%.
Don’t wait! Early Adopters Get the Best Incentives!
California is leading the way in solar incentives and now is the time to invest as some incentives lower as time goes on. The most widely used incentives include: Federal Solar Tax Credit, Net Metering, State and Federal-Level Depreciation and USDA REAP Grants. In addition to these large incentives, there are multiple smaller options out there. Aztec Solar will work with you to determine all incentive options that match your needs.
Financial Fast Facts
- Nearly 50% reduction of upfront purchase and installation costs with available incentives and grants.
- Receive Return on Investment (ROI) typically within 4 years.
- Potential for millions in additional revenue to reinvest in your operation.
- Impact of solar panels go beyond a single farm, commercial space or operation with significant reduction in carbon footprint.
Incentive Programs available to you
The Federal Solar Tax Credit, also known as investment tax credit (ITC), allows you to deduct 26% of the cost of your solar energy system – with no cap – from your federal taxes if purchased in 2021. The percentages allowed for the tax credit downgrades in following years, so now is the time to buy.
Net energy metering (NEM) is one of the best and biggest incentives in purchasing solar in California! With NEM, each month you as the solar owner can sell your unused solar power back to the utility company in exchange for credit towards your future bills. Over time, this can significantly increase the speed at which you can start earning profit in payback. This is especially beneficial in the Central Valley where hot, sunny summers allow you to “bank” your solar panel’s overproduction to pay for costs of powering your needs in winter. And after a 12-month period, you can even be paid for a surplus at the same rate you are charged for it.
The USDA’s Rural Energy for America Program (REAP) Grants provide grants and loans to farmers and businesses for energy efficiency improvements and systems.
By combining federal tax credits, depreciation and USDA grants, you can save nearly half of the initial cost within the first few years. Keep in mind, you will start earning a return on your investment starting the first year and can even start earning a payback typically within 4 years.